HOUSTON-PM Realty Group has been awarded the leasing assignment for One Park 10 Plaza, a 162,909-square-foot, Class A office building in the Energy Corridor submarket.
The eight-story building, located on 3.2 acres at 16225 Park Ten Place, was recently acquired by Beacon Investment Properties for $15.7 million. Local owner Parkway Properties Inc. was the seller, and the company will continue to handle the property management.
The One Park 10 Plaza leasing assignment is PM Realty’s third leasing assignment with Beacon Investment Properties, according to Kim Grizzle, vice president of PMRG and lead leasing manager. With the addition of One Park Ten, PM Realty's central division now leases approximately 475,000 square feet of office space for the firm including 8866 & 8876 Gulf Freeway in the Gulf Freeway/ Pasadena submarket and Timberway II in the Energy Corridor submarket.
“We’re excited to continue to expand the relationship with Beacon and grow with them as they grow their portfolio in Houston,” Grizzle tells GlobeSt. “To be awarded our third assignment with them in just over a year is very rewarding.”
One Park 10 Plaza is located in the 550-acre Park Ten Office Park on the north side of Interstate 10 between Highway 6 and Barker Cypress Road. Built in 1982, the property is 93.7 percent leased to tenants including GGS Spectrum Inc. and J. Connor Consulting. The property also includes a four-level, 560-space parking garage.
Grizzle says PM Realty will focus on serving existing tenants in One Park 10 Plaza and will work to fill the remaining vacant space. “We already have internal and external interest on the remaining space,” she notes.
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